Lender Appraisal Changes; Freddie and Fannie Updates

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Posted To: Pipeline Press

Freddie Mac is re-imagining the Mortgage Experience to create a smarter, simpler, and less costly origination process. We’re using big data and advanced analytics to offer an automated alternative to an appraisal through our new automated collateral evaluation (ACE) for certain loans submitted through Loan Product Advisor®, our next-generation automated underwriting system and the gateway to Loan Advisor Suite®. As of Sept. 1, ACE is available for purchase and refi transactions. This means you can potentially shave 7-10 days off the time it takes for loans to close, and save your borrowers in some instances up to $300 to $700 on the appraisal fee (Source: Freddie Mac Strategic Delivery and lender feedback). Ready to learn more? Visit the Loan Advisor Suite web page. To find out if a…(read more)

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